clock menu more-arrow no yes

Filed under:

A Very Active Week in Mortgages Ahead

Welcome to Monday Mortgage Call, a weekly prognosis by Boston mortgage broker Brian Cavanaugh of where the all-important lending rates might be headed.

Overall, it is difficult to label any particular day this week as the most important for mortgage rates with so much going on. Wednesday is the only day with no economic data being posted, but it does have the Fed meeting adjournment that is always big news. Thursday's Gross Domestic Product report is highly important, but Tuesday and Friday have multiple reports set for release that can influence mortgage rates. And stocks can affect bond trading and mortgage pricing any day, especially if they extend their significant slide from late last week.

What I am fairly certain of is that we will see a very active week in mortgage rates. Therefore, please maintain constant contact with your mortgage professional if still floating an interest rate and closing in the near future.

As for whether you should lock in an interest rate now, I would:

LOCK if your closing was taking place within seven days…

LOCK if your closing was taking place between eight and 20 days…

FLOAT if your closing was taking place between 21 and 60 days…

FLOAT if your closing was taking place over 60 days from now…
· Our Monday Mortgage Call archive [Curbed Boston]